In 2011, the construction industry saw 16 embezzlement cases with a gross loss $13.9 million and an average loss $871,438, says Marquet International. But keep in mind this is just part of the picture: Marquet only examines current cases under prosecution involving the theft of $100,000 and above. Here’s a sampling of their statistics for all industries:
- Average loss: $750,000
- 72 percent of incidents committed by those who held finance/bookkeeping and accounting positions
- Average scheme lasted nearly 5 years
- Most common embezzlement scheme involved the issuance of forged or unauthorized company checks.
- Of the cases where the motivation was known, nearly 22 percent of perpetrators had gambling issues
- Only 5 percent had prior criminal history
- The average embezzler stole $15,189 per month from employers
- 64 percent were female, but male perpetrators on average embezzled about 25 percent more.
- 90 percent of the cases involved individual perpetrators
- Average age at the beginning of the theft: just under 43.
- Average prison sentence: 4 1/3 years.
- Longest duration of a 2011 scheme: 30 years
Source: 2011 Marquet Report on Embezzlement, examining 473 cases involving nearly $355 million in employee theft, published January 17, 2012